|
The scrip was listed at 111, matching the initial public offer (IPO) price. So far, the stock has hit a high of Rs 112.60 and a low of Rs 105.45. On the BSE, over 4.45 lakh shares of the company were traded in the counter so far. The initial public offer of Indogulf Cropsciences was subscribed 25.98 times. The issue opened for bidding on 26 June 2025 and it closed on 30 June 2025. The price band of the IPO is fixed between Rs 105 and 111 per share. The IPO comprised a fresh issue of up to 1.44 crore shares aggregating Rs 160 crore and an offer for sale of up to 36.03 lakh shares worth Rs 40 crore at the upper price band of Rs 111. Proceeds will be used for working capital (Rs 65 crore), debt repayment (Rs 34.12 crore), and setting up a dry flowable (DF) plant in Sonipat, Haryana (Rs 14 crore), with the balance for general corporate purposes. As of 30 April 2025, the company had a working capital limit of Rs 264.08 crore and outstanding borrowings of Rs 256.82 crore on a consolidated basis. Indogulf Cropsciences, established in 1993, is an agrochemical company manufacturing crop protection products, plant nutrients, and biologicals. It operates four plants in India with a presence in more than 34 countries and a product portfolio of 262 items. The company has a strong domestic and global distribution network and earns most of its revenue from crop protection solutions. Ahead of the IPO, Indogulf Cropsciences on Thursday, 23 June 2025, raised Rs 58.19 crore from anchor investors. The board allotted 52.43 lakh shares at Rs 111 each to 5 anchor investors. The firm reported a consolidated net profit of Rs 21.68 crore and total income of Rs 464.19 crore for the nine months ended on 31 December 2024. Powered by Capital Market - Live News |